NAIROBI – Kenya’s shilling and Ghana’s cedi could weaken next week on increased dollar demand, while Zambia’s currency is seen strengthening further on dollar inflows chasing government debt.
At 0847 GMT, commercial banks quoted the shilling at 96.00/10 to the dollar, from 95.25/35 a week ago.
“From next week, importers are going to start buying dollars in anticipation of end-month demand. So we could still continue to see the shilling remain under pressure,” Bobby Otieno, treasurer at Ecobank Kenya, said.
Traders said they forecast the shilling to trade between 96.00 to 97.00 against the dollar.